The 23-year-old, who impressed last season despite the Black Cats' relegation from the Premier League, has signed a long-term five-year deal at Goodison Park.
Pickford's move sees him become the third most-expensive goalkeeper of all time, with even the basic fee trumping the £19m Bayern Munich paid to Schalke 04 for Manuel Neuer in 2011.
Only Gianluigi Buffon's £33m move from Parma to Juventus in 2001 and Manchester City's £34.7million of Benfica's Ederson this summer were more costly than Pickford's switch to Everton.
Upon confirmation of his move to Everton, Pickford said: “It’s great to sign for the club. Last season was my first in the Premier League so to get this opportunity with Everton now, to be able to go forward with my career and show everyone what I can do with Everton is unbelievable.
“It’s a great club, a massive club and I think it’s a great opportunity and the right time for me to come to Everton and show what I can do.”
Pickford's performances last term earned him a call-up to the senior England squad for November's friendly against Spain and saw him shortlisted for the PFA Young Player of the Year award.
Everton manager Ronald Koeman was known to be in the market for a goalkeeper this summer following Maarten Stekelenburg and Joel Robles' struggles between the posts last season.
The Toffees were linked with England's first-choice 'keeper Joe Hart, who is expected to leave Manchester City this summer after spending the year on loan at Torino. Instead, Koeman has opted for a player who may prove to be Hart's long-term successor in the national team.
Born in nearby Washington, Pickford rose through Sunderland's youth ranks before spending time on loan at Darlington, Carlisle United, Bradford City and Preston North End.
Pickford is currently on international duty with the England Under-21s ahead of this summer's European Championships in Poland.
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